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← CARESOURCE FOUNDATION

Form 990 for tax year 2023

Filed by CARESOURCE FOUNDATION.

Totals

Total revenue
$3,668,665
Total expenses
$3,687,168
Contributions and grants received
$3,500,000
Grants paid
$3,459,510
Program service revenue
$0
Investment income
$168,665
Other revenue
$0
Total assets, end of year
$1,136,861
Total liabilities, end of year
$399,484
Net assets or fund balances, end of year
$737,377
Program services expenses (Part IX)
$3,459,510
Management and general expenses
$227,658
Fundraising expenses
$0
Program service expenses (Part III)
$3,459,510

Program services were 93.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $3,500,000

  • 3 · Investment income

    total $168,665 · excluded $168,665

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,447,010 · program services $3,447,010

  • 2 · Grants to domestic individuals

    total $12,500 · program services $12,500

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24a · Other expenses: MGMT FEE CARESOURCE

    total $227,458 · program services $0 · management and general $227,458 · fundraising $0

  • 24b · Other expenses: FILING FEES

    total $200 · program services $0 · management and general $200 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $1,633,400 · end of year $1,131,861

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $5,000

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $0

  • 18 · Grants payable

    beginning of year $1,017,371 · end of year $380,425

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $13,765 · end of year $19,059

  • 27 · Net assets without donor restrictions

    beginning of year $602,264 · end of year $737,377

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

THE CARESOURCE FOUNDATION IS ORGANIZED AND OPERATED EXCLUSIVELY TO FURTHER THE CHARITABLE PURPOSES OF THE INTERNAL REVENUE CODE SECTION 501(C)(3) ORGANIZATIONS WITHIN THE CARESOURCE FAMILY OF COMPANIES (CONTINUED ON SCHEDULE O).

Activities or mission (Part I)

To invest in initiatives and organizations that make a lasting difference in CareSource's members' lives & in their communities by improving their health & well-being.

  • Since 2006, The CareSource Foundation has awarded more than $32 million to nonprofits that are working to eliminate poverty, provide much-needed services to low-and moderate-income families, encourage healthy communities, develop innovative approaches to address critical health issues and enhance the lives of a diverse array of children, adults and families (Continued on Schedule O).

    Expenses $3,459,510 · Grants $3,459,510

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Erhardt Preitauer

    CEO (To 3/23), Pres, Trustee

    Total calculated
    $12,030,121
    From this org
    $0
    From related orgs
    $7,982,382
    Other
    $4,047,739
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,320,200 related
    Bonus
    $0 + $6,194,161 related
    Other
    $0 + $468,021 related
    Deferred
    $0 + $4,027,671 related
    Nontaxable benefits
    $0 + $20,068 related
    Filer's total
    $0 + $12,030,121 related

  • Richard Topping

    Sec (Eff 3/23), Trustee

    Total calculated
    $3,371,871
    From this org
    $0
    From related orgs
    $2,429,434
    Other
    $942,437
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $569,753 related
    Bonus
    $0 + $1,738,540 related
    Other
    $0 + $121,141 related
    Deferred
    $0 + $913,781 related
    Nontaxable benefits
    $0 + $28,656 related
    Filer's total
    $0 + $3,371,871 related

  • Lawrence Smart

    CFO (To 3/23) then Treasurer

    Total calculated
    $2,994,866
    From this org
    $0
    From related orgs
    $2,282,374
    Other
    $712,492
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $587,567 related
    Bonus
    $0 + $1,571,834 related
    Other
    $0 + $122,973 related
    Deferred
    $0 + $692,889 related
    Nontaxable benefits
    $0 + $19,603 related
    Filer's total
    $0 + $2,994,866 related

  • Scott Markovich

    Trustee (To 3/23)

    Total calculated
    $2,908,164
    From this org
    $0
    From related orgs
    $2,046,512
    Other
    $861,652
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $524,810 related
    Bonus
    $0 + $1,411,293 related
    Other
    $0 + $110,409 related
    Deferred
    $0 + $832,617 related
    Nontaxable benefits
    $0 + $29,035 related
    Filer's total
    $0 + $2,908,164 related

  • Jai Pillai

    Chief Operating Ofr (To 4/23)

    Total calculated
    $1,991,058
    From this org
    $0
    From related orgs
    $1,975,288
    Other
    $15,770
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $201,797 related
    Bonus
    $0 + $1,311,318 related
    Other
    $0 + $462,173 related
    Deferred
    $0 + $12,209 related
    Nontaxable benefits
    $0 + $3,561 related
    Filer's total
    $0 + $1,991,058 related

  • Daniel McCabe

    Former Chief Admin Officer

    Total calculated
    $140,542
    From this org
    $0
    From related orgs
    $140,542
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0 + $140,542 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $140,542 related

  • Ellen Leffak

    Trustee

    Total calculated
    $4,000
    From this org
    $0
    From related orgs
    $4,000
    Other
    $0
    Hours/week
    1

  • J Thomas Maultsby

    Trustee

    Total calculated
    $4,000
    From this org
    $0
    From related orgs
    $4,000
    Other
    $0
    Hours/week
    1

  • James Gross

    Sec/Trs then 2nd V Chair, Ttee

    Total calculated
    $4,000
    From this org
    $0
    From related orgs
    $4,000
    Other
    $0
    Hours/week
    1

  • Kenneth Herr

    Vice Chair, Trustee

    Total calculated
    $4,000
    From this org
    $0
    From related orgs
    $4,000
    Other
    $0
    Hours/week
    1

  • RoNita Hawes-Saunders

    Chair, Trustee

    Total calculated
    $4,000
    From this org
    $0
    From related orgs
    $4,000
    Other
    $0
    Hours/week
    1

  • William Marsteller

    Trustee

    Total calculated
    $4,000
    From this org
    $0
    From related orgs
    $4,000
    Other
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Form 990, Schedule J, Part I, Question 3
The organization utilizes a compensation committee, independent compensation consultant, CEO written employment contract, compensation survey or study, review of Form 990 of other organizations, and approval by the board or compensation committee comprised solely of independent directors.
Form 990, Schedule J, Part I, Line 4a
Jai Pillai and Daniel McCabe received severance payments that are properly reported on Schedule J, Part II, Column B(iii).
Form 990, Schedule J, Part I, Question 4b
The following listed persons listed on Form 990, Part VII, Section A, participate in a supplemental nonqualified retirement plan of CSMS: Erhardt Preitauer, Richard Topping, Lawrence Smart, and Scott Markovich. Amounts are accrued monthly for plan participants. The plans provide compensation to the participants after a vesting period, and the funds are available to the participants after they retire or resign from the organization. The plans provide for normal terms and conditions contained in a standard nonqualified retirement plan. The following listed persons listed on Form 990, Part VII, Section A, participate in a long-term incentive plan of CSMS: Erhardt Preitauer, Richard Topping, Lawrence Smart, and Scott Markovich. The plan provides compensation to the participants based on annual and long-term goals. The long-term incentive plan will pay out if these goals, or a subset of these goals, are achieved over a three-year period. If a participant leaves their employment prior to this three-year performance period, they forfeit any amounts accrued under this plan. Employees must be employed on the date which the long-term incentive plan is paid, which in no event is later than March 15th. Exceptions to this general statement include death, disability, or a qualified retirement, which may result in prorated payment. Amounts paid or accrued in 2023 for both deferred compensation arrangements include the following: Erhardt Preitauer $1,820,312, Richard Topping $450,394, Lawrence Smart $450,852, and Scott Markovich $409,557.
Form 990, Schedule J, Part I, Question 6b
The following persons listed on Form 990, Part VII, Section A, Line 1a are or were employees of CSMS: Erhardt Preitauer, Richard Topping, Lawrence Smart, Scott Markovich, and Jai Pillai. All of these listed persons are or were eligible for a performance bonus as part of their compensation packages. The amount of this Annual Incentive Plan ("AIP") bonus is based on the degree of achievement of the Companies' goals and the Individual's goals, which is ultimately documented in the year end performance management process. The performance management process documents the company goals and individual goals, the corresponding potential performance bonus, and the progress/outcomes. The performance bonus is based on the employee's calendar year regular earnings.
Form 990, Schedule J, Part II
All compensation amounts reported on Schedule J, Part II for all listed persons are paid by CSMS. Compensation paid to the CEO is pursuant to the terms of a written employment agreement between Mr. Preitauer and CSMS.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202443189349305429

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